Good morning everyone! Here is today's Daily Briefing.
The US Post office is set to close 3,700 facilities around the country, including one in South Bethlehem. The Lehigh Valley International Airport saw a 7% traffic increase in June. Sands Bethlehem showed a strong second quarter in 2011, including a boost in revenues over the same time last year. Coll Recycling is opening a facility in South Whitehall, creating 75 new jobs.
Senator Toomey reintroduced legislation that would require that the US prioritize its debt payments in the event that the debt ceiling isn't raised by August 2.
In debt related news, there is still no deal and none appears to be forthcoming. Speaker Boehner's plan has been rejected by many rank-and-file Republicans, forcing a delay on its vote until Thursday. A new survey of economist's shows that a majority believe that the US credit ratings will be downgraded. In other news, the Great Recession has widened the average wealth gap between whites and other minorities to its highest point in 25 years. After numerous instances of "erratic behavior" and allegations of unwanted sexual advances towards the daughter of a campaign donor, Congressman David Wu (D-OR) is resigning from Congress once a debt limit deal is reached. Wu becomes the fifth member to resign from this Congress and the 4th to resign in disgrace following a scandal.
We'll leave you some good news today: according to reports, Al-Qaeda appears to be on the verge of collapse.
We have two events today: Iron Pigs night with the East Penn & Western Lehigh Chambers of Commerce and the Hellertown-Lower Saucon Chamber of Commerce's annual picnic.
That's it for now! Have a good one, and we'll see you later.